Recap:

In Phase 1:

I completed a hardware inventory of the system and made the initial parts list.  That was a very short list: a CR2032 CMOS battery and Arctic Silver thermal paste.

Also, completed initial cleanup of the components using canned air.

In Phase 2:

After receiving parts order #1, I completed assembly of the system, and after some basic troubleshooting discovered just 2 problems to address.  Both required another parts order: DVD drive and replacement DDR2 RAM.

Now for Phase 3 (and 4):

 In Phase 3:

I received the Asus 24B1ST Black DVD-RW SATA drive on time as Amazon said it would arrive.  The install was simple, as I just had to disconnect the bad drive and slide the new one in place.  However, I opted to place the new drive in the top bay.  This allowed for all of the extra cabling from the power supply to be tucked into the lower bay, out of the way and a little cleaner.

After installing the drive, I booted up the system to check the status.  I was able to install the TP-Link Archer T4U USB wifi device now.  It turned out it was running Windows 10, version 1511 and was missing updates.  It took a few restarts, but finally had 1511 fully updated, but too bad it hit End of Life in October 2018.  That was about 2.5 years after the computer was last in service.  And as I had the system setup on a small domain network, it was not eligible for any version updates. This wasn't a problem, as I had already planned to do a clean install.

Phase 4 - (Earlier than expected!)

About the time I had the DVD drive installed, prepared a flash drive with all the applicable drivers from the Asus support site, the RAM I had ordered arrive - a week early!  So, what I had planned to be Phase 4 rolled into Phase 3.

The Corair XMS2 PC2-6400U DDR RAM that I ordered was used, but the seller on Amazon claimed to have tested it.  

I removed the one good stick of Kensington RAM I had, and installed the two Corsairs.  

After powering up, I went straight into the BIOS and verified that all 4GB was recognized by the system.  The I utilized a fresh copy of the Ultimate Boot CD and ran several memory tests - All passed with no issues.

The system was now once again back up and running.

Conclusion:

Budget Report:

My budget for this project was $50.00, and it used the entire budget.

Project Results:

I wound up installing Windows Server 2008R2 Enterprise on the system, and configuring it to replace the Hyper-V server that I've been using.  I would call this little refurb project a complete success, as I have a usable system that cost just under $50.